Monday, 13 September 2010

Rare 1897 Chinese stamp sells for £300,000

Rare 1897 Chinese stamp sells for £300,000

Further proof here of the increasing "commercial collecting" of stamps and the sudden explosion of serious prices being paid in emerging markets such as China.

One can understand such a high price being paid for a very rare, 113-year-old stamp but it is strange to see such large amounts of money changing hands for more recent issues. I suppose "speculate to accumulate" about sums it up; today's stamps will be tomorrow's valuable collectibles, I imagine.

The 1897 stamp is a nice-looking piece, however, and once again we see that a printing error and the subsequent rarity value attached to a production run of just 32 commands a high price. I'd love to have it in my collection but again, I can't afford £300k! It will most likely have sold to a wealthy Chinese collector, who I am sure will appreciate it and continue to patronize the growing Chinese philatelic market, which in the wider stamp-collecting world is a welcome addition to the top-end collecting boom.

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